Market Analysis

EURUSD, “Euro vs US Dollar” EURUSD quotes have broken the 200-day Moving Average on H4 and are currently above it, indicating the development of an uptrend. The RSI has broken the resistance line. As a result, in this situation, the 4/8 (1.0864) level is expected to break, with the price rising to the resistance at […]

The price of Ethereum is hitting the yearly maximum points again. The asset’s price might potentially rebound to the broken psychological level of 3000 and rise. Hence, it would be important to follow the candlestick formations to forecast the upcoming price movements. The price of gold rebounded from the broken downtrend and supporting zone and […]

TitleFalling to Pullback Support TypeBullish Bounce Preference:Price is falling towards the pivot point of 22.986 which is a pullback support level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 23.241 which is a pullback resistance level. Alternative scenario: If price breaks below the pivot point, […]

EURUSD, “Euro vs US Dollar” The EURUSD pair has completed a decline wave, reaching 1.0799. Amid the news, the market received support at this level, creating upward momentum towards 1.0841. Today it is forming a consolidation range around the 1.0837 level, which could expand to 1.0850. Subsequently, the price might decline to 1.0837. Practically, a […]

XAUUSD, “Gold vs US Dollar” Gold has formed a Harami reversal pattern. Currently, the instrument might go by the reversal signal in a descending wave. The correction target could be the 2065.00 level. Upon testing the support, the quotes might rebound from it and continue developing the uptrend. However, the price could rise to 2100.00 […]

The primary currency pair remains in equilibrium on Monday. The current EURUSD exchange rate stands at 1.0844. The USD’s position deteriorated earlier due to the release of weaker-than-expected statistics from the US. For example, industrial production declined in February, while employment levels at manufacturing facilities fell to a seven-month low. Construction spending also dropped in […]

The Australian dollar is depreciating against the US dollar. The current AUDUSD exchange rate stands at 0.6519. The Aussie had been rising for two days but then stumbled upon some not-really-important statistics. In January, the number of building permits in Australia dropped by 1.0% m/m, following a previous decline of 10.1% and against the forecasted […]

Loonie on Watch USDCAD is pushing higher today, with the pair testing above the bear trendline and prior 2024 highs, despite the weakness in USD. Concerns over the sustainability of the current risk rally are seeing some unwinding of CAD longs. Traders are also bracing for two sets of key US and Canadian data later […]

EZ CPI Beats Forecasts The latest set of eurozone inflation data today told a familiar tale. The flash eurozone CPI estimate for February came in at (headline) 2.6% vs 2.5% expected with core also seen at 3.1%, above the 2.9% the market was looking for. As we’ve seen in the US and UK recently, a […]

Core PCE Rises The US Dollar is catching a bid ahead of the weekend following yesterday’s data. The core PCE price index was seen rising to 0.4% from the prior month’s 0.1% reading. Given that the data is used by the Fed as a key inflation gauge, the release is seen as further evidence that […]

Brent Brent quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI has rebounded from the support line. In this situation, the quotes are expected to rise above 5/8 (82.81), later reaching the resistance at 6/8 (84.38). The scenario could be cancelled by a breakout of the 4/8 […]

Copper Sinking Copper prices are turning lower once again as we head into the weekend. The current sell-off comes on the back of the latest set of Chinese economic data overnight. The China manufacturing PMI was seen falling deeper into negative territory last month at 49.1 down from 49.2 prior and expected. With the factory […]